Bulgaria has signed an agreement with Rheinmetall for a powder and projectile factory worth 1 billion euros
Cristina Petrache
International
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Bulgaria has signed a contract with the German concern Rheinmetall for the construction of a factory for powders and artillery shells, with a value of over 1 billion euros. The project, which will be carried out in partnership with the state company VMZ, will allow Germany to hold 51% of the shares, while Bulgaria will hold 49%. The funding will come from a loan through the EU's SAFE mechanism. The factory, located in Sopot, will have a production capacity of 100,000 shells per year and will create approximately 1,000 jobs. The Bulgarian Prime Minister, Rosen Jeliazkov, emphasized the importance of this strategic partnership for the country's defense industry. The project aims to meet the ammunition needs of Europe and NATO, considering the increasing demands in this area.
Sources
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